Welcome to Sanlam Employee Benefits BENCHMARK Survey online

Transcription

1 Welcome to Sanlam Employee Benefits BENCHMARK Survey online Use this BENCHMARK Survey web-application Help File as a guide to compile your own analysis reports according to your particular business information needs. Each topic included in the contents list is clickable. Hold control and click on your chosen heading to move directly to corresponding information in the Help File. BENCHMARK Survey online Help File Page 1

2 Sanlam Employee Benefits BENCHMARK Survey online CONTENTS 1. Brief overview of the BENCHMARK Survey What is BENCHMARK Survey online? How to receive BENCHMARK Survey updates via Twitter.com Fund Types covered by BENCHMARK Survey... 4 Stand Alone... 4 Umbrella... 4 Member Survey Methodology and Sample for Stand Alone retirement funds... 5 Notes on summary tables... 5 Sample size... 5 Numbering Returning to this Help File and Methodology whilst online How to download Adobe Acrobat reader How to gain access to the survey... 8 How to register... 8 Fresh updates via Twitter.com... 9 How to log in Forgotten your password? Change your profile Refer a client or colleague What do the main tab headings mean? Executive Summary Survey Results, Ad Hoc Questions and Search Contact Us More View a BENCHMARK Survey from a previous year Executive Summaries and Full Reports Finding Survey Results to match your information needs How to create your own query or report Example One: Stand Alone Fund Interpreting the Survey Results Slicing your query further Interpreting the results of the expanded Slice Example Two: Stand Alone Fund Interpreting the Survey Results Slicing your query further Interpreting the results of the expanded Slice Example Three: Umbrella Fund Interpreting the Survey Results Slicing your query further Interpreting the results of the expanded Slice Example Four: Umbrella Fund Interpreting the Survey Results BENCHMARK Survey online Help File Page 2

3 Slicing your query further Interpreting the results of the expanded Slice Survey Results for Member Fund Reading and understanding the reports Asking Ad Hoc questions Example One: Stand Alone Fund Interpreting the Survey Results Ad Hoc Questions Slicing your query further Interpreting the results of the expanded Slice Example Two: Stand Alone Fund Slicing your query further Interpreting the results of the expanded Slice Using Hot Options How Hot Options works Finding answers through Search Example One: Search phrase AIDS Example Two: Search phrase Disability benefits Exporting survey results into an Excel Spreadsheet Printing survey results Managing your survey results history Troubleshooting, suggestions and queries More about Sanlam Employee Benefits and BENCHMARK Symposium Industry News BENCHMARK Survey online Help File Page 3

4 1. Brief overview of the BENCHMARK Survey In its 29th year, the newly rebranded Sanlam Employee Benefits BENCHMARK Survey serves as a rich source of valuable market information for all stakeholders in the management and analysis of retirement funds. The survey is viewed in the industry as an authentic South African yardstick to measure and examine progress, profitability and problems facing South Africa s retirement industry. This contributes to positioning Sanlam as thought leaders in the Employee Benefits arena. The research is conducted independently, this year by BDRC, a respected research house. We subscribe to the SAMRA code, regarding ethics and confidentiality of participants as paramount. 2. What is BENCHMARK Survey online? Previously, results of surveys were presented in booklet form and used extensively by industry professionals, regulators and policy makers. Sanlam Employee Benefits now proudly is able to provide its survey results to a wider audience through its BENCHMARK Survey web-based application - an industry first. You can quickly and easily access all data from the survey and tailor-make your own reports depending on your information needs, while at the same time helping Sanlam reduce our carbon footprint. 3. How to receive BENCHMARK Survey updates via Twitter.com Sanlam Employee Benefits is thinking ahead and using new technology to ensure the Retirement Fund Industry is kept informed about the latest trends and information as it happens through regular tweets on Twitter ( 4. Fund Types covered by BENCHMARK Survey Stand Alone The research for the main section of the Sanlam Employee Benefits BENCHMARK Survey is conducted among a randomly selected sample of 200 principal officers of retirement funds by means of face-to-face interviews. Respondents are chosen at random from selected sub-populations and represent the entire South African landscape of defined contribution funds, whether pension or provident fund, large or small and across industries. Umbrella A separate section on umbrella funds has been reintroduced, with questions directed at 100 participating employers in umbrella funds. Member The results of the member survey from Sanlam Employee Benefits (SEB) are based on telephone interviews conducted between April and May with 600 retirement fund members (59.7% of whom are in pension fund, 24.8% in provident funds and 13.8% a hybrid of the two). BENCHMARK Survey online Help File Page 4

5 5. Survey Methodology and Sample for Stand Alone retirement funds The 2009 BENCHMARK Survey was conducted among 200 principal officers of stand-alone retirement funds and 100 participating employers in umbrella funds. Interviews were conducted between January and April Respondents were selected at random to represent small (< 100 members), medium ( members), large ( members) and very large ( members) funds and employers in South Africa. The survey was conducted by the independent market research agency BDRC, via face-to-face interviews. Once again, the survey recorded a 100% response rate with a total of 200 funds and 100 participating employers responding. This is indicative of the positive attitude and willingness of the industry representatives to participate in shaping the future of South Africa s retirement environment. The research was conducted under the SAMRA (South African Marketing Research Association) Code of Conduct and all the information gathered is held in strict confidence. All respondents remain anonymous and only the aggregated results of the survey have been reported on. Notes on summary tables Sample size The tables and graphs in this report are based on responses by 200 principal officers in stand-alone retirement funds. The data represented are for three consecutive years (2007 to 2009). To keep the results current, any questions from previous studies not included in the 2009 survey, have not been tabulated. However, the historical data is available on request. The sample size is 200 but in some instances the base size is n 200, namely: n < 200 where the question was not applicable to all participating funds n > 200 where the question allowed for multiple responses. Caution: Data should be used with care, particularly where the number of responses were < 30, as this is considered statistically insufficient to draw any significant industry conclusions. Numbering Over the years we have tracked responses to certain questions, which allows us to determine trends for a specific period. As a result, in an attempt to retain original questions question numbering may not be sequential. BENCHMARK Survey online Help File Page 5

6 6. Returning to this Help File and Methodology whilst online You can return to the Methodology and guidance within this Help File at any point during your browsing. Just click on the Footnote and Methodology link at the bottom of each Survey Results and Ad Hoc Questions browser window or click on HELP on the right hand side at the very top navigation bar on the website. BENCHMARK Survey online Help File Page 6

7 How to download Adobe Acrobat reader You will need Adobe Acrobat reader to be able to view the BENCHMARK Survey online. If you do not have this application (BENCHMARK Survey log in will tell you if you don t), you can download it free from the Internet by following the link on the Executive Summary screen or typing: into your browser. The following screen should appear: Click on the Get Adobe Reader button - it can be found to the middle right of the opening screen. Follow download instructions, clicking the download link(s) where appropriate. Adobe Acrobat Reader should automatically install. Once it is installed, you will be able to access files for download each time you log onto BENCHMARK Survey online. If you experience any difficulties downloading Adobe Acrobat reader after reading the download instructions, please contact the Technical Helpdesk in Customer Services on (from 8am to 4pm weekdays). BENCHMARK Survey online Help File Page 7

8 7. How to gain access to the survey Type: into your Internet browser. For you to view the Survey Results, you need to register once and thereafter log in each time you visit the BENCHMARK Survey online. How to register Registration is free of charge, and gives you access to all areas of Sanlambenchmark.co.za. Click on the REGISTER LINK above the Sanlam Employee Benefits logo. The following form will appear: To register, please complete all of the fields on the registration form. Make a safe note of the address you have used and your password for future reference. BENCHMARK Survey online Help File Page 8

9 Sanlambenchmark.co.za requires your address so we can contact you if you forget your password, or if you have signed up for any of our newsletters. We promise to only use your address in accordance with our Privacy Policy. See the next heading: Fresh updates via Twitter.com to find out how you can register to receive news updates direct to your address from Twitter.com When you have completed the form, click the link at the bottom of the form to complete and submit your registration. When you have successfully registered, a new screen confirming your registration will appear and allow you access to the BENCHMARK Survey. If you experience difficulties registering after reading all the instructions accompanying the form, or if you have any questions about registration or the site in general, please contact the Technical Helpdesk in Customer Services on (from 8am to 4pm weekdays). Fresh updates via Twitter.com You will notice there s a ticker box on the registration page inviting you to receive regular updates via Twitter. Sanlam Employee Benefits is thinking ahead and making the most of new technology to ensure the Retirement Fund Industry is kept informed about the latest trends and information as it happens through regular tweets on Twitter. If you have already registered and are unsure if you requested to be included in BENCHMARK Survey Twitter.com news updates, you can go back into your profile to select the I would like to receive regular updates via Twitter ticker box. When you have updated the form with any details you wish to add or change, click the link at the bottom of the form to re-submit your profile. See the Help File section on how to Change your profile BENCHMARK Survey online Help File Page 9

10 If you experience any technical difficulties registering after reading all the instructions accompanying the form, or if you have any questions about registration or the site in general before you register, please contact the Technical Helpdesk in Customer Services on (from 8am to 4pm weekdays). If you have any general queries after registering, please send us your questions via the Contact Us tab in the main BENCHMARK Survey online screen, reverting only to the Technical Helpdesk if you experience any technical difficulties. How to log in You can only gain access to the online BENCHMARK Survey if you have registered first. Please ensure you have completed this once-off step before attempting to log in. The LOG IN screen is accessible via the link at the top right of the screen. Click on the link and simply enter your user ID (your address) and password into the Log in screen. An opportunity for you to log in may also appear to the left of the LOG IN link. Forgotten your password? If you ve forgotten your password, you will not be able to gain access to the site. Click on Forgot Password? insert your registered address into the Lost Password Recovery Form and click SEND PASSWORD. The Technical Helpdesk will send your password to your registered address. BENCHMARK Survey online Help File Page 10

11 Change your profile Click on MY PROFILE which appears at the top right of your screen, adjacent to LOG IN and HOT OPTIONS. The following pages will appear. The information you provide will be kept confidential in line with our Privacy Policy. When you have made the required changes to your details in the first two sections of the screen My profile and Tell us about yourself, click UPDATE to the bottom right of the two sections. BENCHMARK Survey online Help File Page 11

12 Refer a client or colleague In the MY PROFILE screen you can also let us know of anyone you feel would be interested in receiving information about BENCHMARK Survey online. Complete the required fields in the Refer a client/colleague section with the referral information and click SEND. 8. What do the main tab headings mean? For a clearer understanding of how the Survey Results process works, test out the examples in the BENCHMARK Survey web-application. We suggest you move through each tabbed heading and try them out. Once you re comfortable with how the site works, you can start analysing the survey data according to your own business needs. BENCHMARK Survey online Help File Page 12

13 Executive Summary For an executive summary of the overall findings for each of the Funds included in the Sanlam Employee Benefits BENCHMARK Survey, click on the first tab to the left of the browser window: Executive Summary. This page also gives you access to the full report for each year. Note: While there are Stand Alone Fund reports for the years 2006, 2007, 2008 and 2009, there are only 2009 reports available for Umbrella and 2008 and 2009 reports for Member Funds, which have been included in the BENCHMARK Survey more recently. All files are smaller than 1mb except where the size is indicated in brackets next to the report link. BENCHMARK Survey online Help File Page 13

14 Survey Results, Ad Hoc Questions and Search The Survey Results, Ad hoc Questions and Search pages are all interactive, meaning that you will make your own selections as to the information you need, and the application will sift through all the survey data and produce answers to the questions you have asked. Survey Results This screen enables you to create your own queries and reports by doing your own data searches. The drop-down menus help you refine your search criteria. Once you have entered your search criteria (fund type, section, year, period) and settled on your question(s), the results appear immediately in the window below the drop down menus. For more information on how to get the most from your searches, see the Help File section, entitled, How to create your own query or report [Place your mouse over the aforementioned link, hold control and click to access the hyperlinked section.] Ad Hoc questions The questions in the survey results section of this BENCHMARK Survey appear as standard questions that appear year-on-year. The Ad Hoc Questions screen enables you to view - and search results for - questions that were unique to the survey in the any given year. BENCHMARK Survey online Help File Page 14

15 Search The search screen is great for searching out all relevant questions regarding a topic of your choosing. You can then scan the list for particular questions that meet your business information requirements. See the Search section in this Help File, entitled: Finding Survey Results to match your information needs. [Place your mouse over the aforementioned link, hold control and click to access the hyperlinked section.] Contact Us The BENCHMARK Survey website has been designed around you, the user. Use the Contact Us tab to share your experience of the site with us or to send us your queries. You can also use the form to suggest a question for the next survey. More This page provides more information about BENCHMARK Survey. It links you to: Comment from the financial press Comprehensive information about BENCHMARK Symposium BENCHMARK Survey news on Twitter.com The Sanlam Employee Benefits website. See - More about Sanlam Employee Benefits and BENCHMARK Symposium in the last section of this Help File. [Or place your mouse over the aforementioned link, hold control and click to access the hyperlinked section.] BENCHMARK Survey online Help File Page 15

16 9. View a BENCHMARK Survey from a previous year Executive Summaries and Full Reports For an executive summary and full report of the overall findings for each of the Funds included in the Sanlam Employee Benefits BENCHMARK Survey, click on the first tab to the left of the browser window: Executive Summary. Note: While there are Stand Alone Fund reports for the years 2006, 2007, 2008 and 2009, there are only 2009 reports available for Umbrella and 2008 and 2009 reports for Member Funds, which have been included in the BENCHMARK Survey more recently. All files are smaller than 1mb except where the size is indicated in brackets next to the report link. BENCHMARK Survey online Help File Page 16

17 10. Finding Survey Results to match your information needs 11. How to create your own query or report In this screen you can select specific questions per fund type under ten available section topics. There are three FUND TYPES Stand Alone, Umbrella and Member - and SECTION topics. Furthermore, you can select the YEAR you wish to research and also the PERIOD for comparison. For example, you may want to compare 2008 and You would then select 2008 from the YEAR drop down menu and PERIOD 2. This means the survey will provide results for the two years, 2007 and There are two QUESTION drop down menus. The first one is your main question for the section topic selected. The second question enables you to slice your results even further, providing more meaningful information. Important: Each time you create a new query click on the orange CLEAR SLICE button below PERIOD and directly below the Sanlam Employee Benefits logo. See Slicing your query further, clickable from the Help File contents list, for more information on how to get the most from your searches. [You can also place your mouse over the aforementioned link, hold control and click to access the hyperlinked section.] Use the PREVIOUS and NEXT buttons to toggle from one question to the next in the list, according to the FUND TYPE and SECTION selected. BENCHMARK Survey online Help File Page 17

18 Example One: Stand Alone Fund Query: I would like to find out more about Stand Alone Fund Contributions...and I only want results for 2008 and 2009 Under the survey results tab, select Stand Alone as the Fund Type. Now choose 5 - Contributions from the SECTION drop down menu. Select 2009 from the YEAR drop down menu. Select PERIOD 2 as you are only seeking results for years 2008 and Finally, select the question that relates to your interest in Stand Alone Fund contributions. Notice that there are a number of optional questions for this topic. In this example, select Question 5.1: What is the total annual contribution of the fund (i.e. member s plus employer s contribution)? A circular timer will temporarily appear with the word LOADING in the Survey Results browser followed automatically by the appearance of results to your question below the search form. In this example, we have not selected a sub-question and notice in the screengrab below that the result gives us a simple answer the range of contributions made by the respondents funds expressed in Rands (Less than R1 million, R1 million to R5 million, More than R5 million, Not sure). It does not give us more detail regarding the respondents other than the number who responded in each case. BENCHMARK Survey online Help File Page 18

19 Interpreting the Survey Results In the above example survey result, there were 200 respondents to the question in both 2008 and This figure appears adjacent to Base All Respondents. Comparing results for 2008 and 2009, you can see that 15 respondents (or 7.5% of the 200 respondents) in the 2009 survey said their total annual contribution category of the fund (i.e. member s and employer s contribution) was Less than R1 million. In the preceding year (2008), 29 (14.5%) of the Base Sample of 200 respondents said their total annual contribution category of the fund (i.e. member s and employer s contribution) was Less than R1 million. You can use this example in a similar way to interpret the rest of the results to this particular query. Slicing your query further Taking our abovementioned Stand Alone Fund contributions example, you can now further slice the research by a second question. This will make the information more meaningful, depending on how you would like to further investigate the question. In the following screengrab example, select question 9.1: How frequently does the fund credit investment returns to members accounts? This will provide further analysis by telling you in each fund contribution category, how frequently the fund credits investment returns to members accounts. BENCHMARK Survey online Help File Page 19

20 In the above survey result, there were 200 respondents in both 2008 and 2009 to the first question. This figure appears adjacent to Base All Respondents. By slicing the results further by the second question used in this example, you are able to see how frequently each category of fund contribution (between Less than R1 million and More than R5 million) credits investment returns to members accounts. BENCHMARK Survey online Help File Page 20

21 Interpreting the results of the expanded Slice Using the aforementioned example: Of the 15 respondents (7.5% of the 200 who responded to the total annual contribution question) who said the fund contributed Less than R1 million annually, seven (3.5% of the 15 respondents in that category) said the fund credited investment returns to members accounts Monthly (2009 Survey). In 2008, 13 respondents (6.5% of the 29 who responded in the Less than R1 million category) said the fund credited investment returns to members accounts Monthly. You can use this example in a similar way to interpret the rest of the results to this particular query. Important: Each time you create a new query click on the orange CLEAR SLICE button below PERIOD and directly below the Sanlam Employee Benefits logo. Example Two: Stand Alone Fund Query: I would like to find out more about Stand Alone Fund Risk Benefits...and I want to compare results for 2009, 2008, 2007 and Under the survey results tab, select Stand Alone as the Fund Type. Now choose 6 Risk Benefits from the SECTION drop down menu. Select 2009 from the YEAR drop down menu. Select PERIOD 4 as you are seeking results for years 2006 through to Finally, select the question that relates to your interest in Stand Alone Risk Benefits. Notice that there are a number of optional questions for this topic. In this example, select Question 6.1a: What benefits are paid to dependents on the death of a member before retirement? A circular timer will temporarily appear with the word LOADING in the Survey Results browser followed automatically by the appearance of results to your question below the search form. BENCHMARK Survey online Help File Page 21

22 The following screen will appear with the results to your question. In the above survey result, there were 199 respondents to this question in the 2009 Survey, 200 respondents in both 2008 and 2007 and 188 in These figures appear adjacent to Base All Respondents. Interpreting the Survey Results Comparing results for 2006 through 2009 in the aforementioned screengrab: In 2006, 183 respondents (97.3% of the 188 All Respondents base for 2006) said their fund pays out a Lump Sum to dependents on the death of a member before retirement. In 2007, 198 respondents (99% of the base of respondents to the question) - the highest number of respondents to this question in all the Survey years said their fund paid out a Lump Sum. In 2008 the number dropped to 193 (96%) and in 2009, the figure rose again to 195 (98% of the All Respondents base). You can use this example in a similar way to compare responses in each individual year: BENCHMARK Survey online Help File Page 22

23 For example, in 2009, 31 (15.6%) of the 199 respondents said their fund pays out a Spouse s pension, while 31 respondents also paid out a Children s pension. 195 (98%) of the 199 paid out a Lump Sum. No respondents were unsure of their funds pay out arrangements. Notice that the table size for 2009 totals to 251. This means that respondents selected more than one optional answer to the same question. That is, a fund paying out a Spouse s pension, could also have an arrangement to pay out a Children s pension or a Lump Sum. Slicing your query further Taking our abovementioned Stand Alone Fund Risk Benefits example, you can now further slice the research by a second question. This will make the information more meaningful, depending on how you would like to further investigate the question. For the purposes of this example, select question 1.2b: Which of the following descriptions applies to the fund participating in the survey? This will provide further analysis by giving you a description of the fund that is responding to the first question (What benefits are paid to dependents on the death of a member before retirement) Again, a circular timer will temporarily appear with the word LOADING in the Survey Results browser followed automatically by the appearance of results to your sub-question below the search form. BENCHMARK Survey online Help File Page 23

24 Continuing with the same example: In the above outcome to the second question, the result to the first question begins to take on more meaning. Interpreting the results of the expanded Slice Looking at the 2009 column in this screen grab, notice there are 199 respondents to the initial question. Of the 199, 195 (98%) said their fund paid out a Lump Sum benefit to dependents on the death of a member before retirement. Further analysis tells us that 60 respondents (30.2% of the 195 paying the Lump Sum) represent a Pension Fund. 113 (56.8%) represent a Provident Fund, two respondents said their fund was set up for an industry sector, while 21 respondents (10.6%) of the 195 paying out a Lump Sum, represent a Hybrid fund. Nil respondents represented a fund that is subject to a bargaining counsel and Nil represented an umbrella fund open to employers in a particular industry. You can use this example in a similar way to interpret the rest of the results to this particular query. Important: Each time you create a new query click on the orange CLEAR SLICE button below PERIOD and directly below the Sanlam Employee Benefits logo. BENCHMARK Survey online Help File Page 24

25 Example Three: Umbrella Fund Query: I would like to find out more about the credit crisis impact on the Umbrella Fund... particularly how consultant(s) / brokers have reacted? Under the survey results tab, select Umbrella as the Fund Type. Now choose 10 - Special Topics from the SECTION drop down menu. We suggest you choose Special Topics as it the most likely place to find information on the credit crisis which is currently a hot (or special) topic in the Financial Services industry for Select 2009 from the YEAR drop down menu. PERIOD 1 automatically displays in the adjacent drop down menu as there are only results available for this particular topic in As the credit crunch really only hit South Africa in 2009, there is no comparison available for previous years. However, had the crisis been a discussion point in 2007 through to 2009, then we would have had the option to select PERIOD 3 from the drop down menu. This would have produced comparative results for 2009, 2008 and Finally, select the question that relates to your interest in the credit crisis. In this example, select Question 13.2: How did your consultant/broker react to the impact of the credit crisis? A circular timer will temporarily appear in the Survey Results browser followed automatically by the appearance of results to your question. In this example, we have not selected a sub-question and notice that the result gives us a simple, general overview of the industry s reaction as a whole to the credit crisis. Knee-jerk reaction, Proactive reaction, Communication to members, etc. It does not give us more detail on how different sectors of industry have reacted individually. [See screengrab below] BENCHMARK Survey online Help File Page 25

26 Interpreting the Survey Results In the above survey result, there were 98 respondents to the question. This figure appears adjacent to Base All Respondents. 24 respondents (or 24.5% of the 98 respondents) agreed their consultant/broker reacted proactively to the credit crisis. Five respondents (5.1% of the 98 respondents) felt their consultant/broker had exhibited a knee-jerk reaction; meaning they had reacted hastily without sufficient regard for potential consequences. Slicing your query further Taking our abovementioned Umbrella Fund example, you can now further slice the research by a second question. This will make the information more meaningful, depending on how you would like to further investigate the question. In the following screengrab example, select question 1.1: How would you classify the principal employer? This will provide further analysis by telling you how each business category s broker/consultant reacted to the impact of the credit crisis. Notice in the screengrab below that the results are now more meaningful, as you are able to view the first question in more detail. BENCHMARK Survey online Help File Page 26

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28 Interpreting the results of the expanded Slice In the aforementioned screengrab: Of those five respondents (5.1% of the 98 All Respondents base), one respondent from the Healthcare sector, one from IT/Telecoms, two from Professional / Business Services and one from Wholesale and Retail felt their consultant/broker(s) reacted to the impact of the credit crisis with a knee-jerk reaction. Below their response, you ll see that this particular slice of the table totals to the five respondents (5.1% of the total 98 respondents to the first question) who felt their consultants(s)/ broker(s) responded with a knee-jerk reaction. A similar analysis can be followed when scrolling down through the rest of the results to your expanded question. For example, in the section where 24 respondents (of the total 98 All Respondents Base) felt their consultant(s)/broker(s) reacted proactively. Of the 24, one respondent (1.0 % of the 24) from the Building/Construction sector, one from the Chemical/ Pharmaceutical, on from Education, and so on, all felt their consultant or broker respondent proactively to the impact of the Credit Crisis. Important: Each time you create a new query click on the orange CLEAR SLICE button below PERIOD and directly below the Sanlam Employee Benefits logo. Example Four: Umbrella Fund Query: I would like to find out more about Governance and Compliance within Umbrella Funds...particular if the funds have formally approved written governance plans. Under the survey results tab, select Umbrella as the Fund Type. Now choose 3 Governance and Management from the SECTION drop down menu. Select 2009 from the YEAR drop down menu. There are no Survey Results available for Umbrella Funds for previous years as 2009 is the first year Umbrella Funds have participated in the BENCHMARK Survey. PERIOD 1 automatically displays in the adjacent drop down menu as there are only results available for this particular topic in Finally, select the question that relates to your interest in Governance and Compliance. In this example, select Question 3.3: Does the umbrella fund have a formally approved written governance plan so as to ensure ongoing governance and compliance? A circular timer will temporarily appear in the Survey Results browser followed automatically by the appearance of results to your question. BENCHMARK Survey online Help File Page 28

29 In this first part of our example, we have not selected a sub-question and notice that the result gives us a simple Yes, No, Unsure answer. It does not give us more detail about the respondents to this question in the survey. [See screengrab below] BENCHMARK Survey online Help File Page 29

30 Interpreting the Survey Results In the above survey result, there were 100 respondents to the question set in the 2009 BENCHMARK Survey. This figure appears adjacent to Base All Respondents. 74 respondents (or 74% of the 100 respondents) said their umbrella fund has a formally approved written governance plan so as to ensure ongoing governance and compliance. Two (2% of the 100 respondents) said they did not have a formally approved plan, while 24 (24%) were unsure if their umbrella fund had one in place. BENCHMARK Survey online Help File Page 30

31 Slicing your query further Taking our abovementioned Umbrella Fund governance example, you can now further slice the research by a second question. This will make the information more meaningful, depending on how you would like to further investigate the question. To find out more about the funds represented by the respondents to the first question (mentioned in the above example), select a second example within the Survey Results screen to further slice the results. In this case, select question 1.2b: Which of the following descriptions applies to the Umbrella fund participating in the survey? This will provide further analysis by telling you more about the respondent to your first question. That is whether or not the fund has a formally approved, written governance plan in place. Again, a circular timer will temporarily appear in the Survey Results browser followed automatically by the appearance of results to your question [see Screengrab below] BENCHMARK Survey online Help File Page 31

32 Interpreting the results of the expanded Slice In the above slice example, your yes/no/not sure answers now take on more meaning with the provision of information about the respondents. BENCHMARK Survey online Help File Page 32

33 Of the 72 respondents who said their umbrella fund did indeed have a formally approved written governance plan in place to ensure ongoing governance and compliance, 23 represented a Pension Fund and 54 represented a Provident Fund. As these two figures do not tally, we can deduce that some respondents represened both a Pension and a Provident Fund when responding to the survey. Of the two respondents that said No to the first question, both represented a Provident Fund only. Of the 24 who were not sure if their umbrella fund did or did not have a formally approved Governance plan in place, nine represented a Pension Fund and 16 represented a Provident Fund. Note: At the bottom of this screengrab is a link to Footnotes and Methodology. You can use this link (at the bottom of each Survey Results and Ad Hoc Questions browser window) to return to this BENCHMARK Survey web-application Help File at any given point during your browsing. Important: Each time you create a new query click on the orange CLEAR SLICE button below PERIOD and directly below the Sanlam Employee Benefits logo. 12. Survey Results for Member Fund To view Member Fund BENCHMARK Survey results for 2008 and 2009, click on the Executive Summary at the top of your browser window and scroll to the end of the page. BENCHMARK Survey online Help File Page 33

34 13. Reading and understanding the reports Refer to the examples set out in section 12 of this Help File. In each example, we show you how to interpret the results to your BENCHMARK Survey online searches. 14. Asking Ad Hoc questions The questions in the survey results section of this BENCHMARK Survey appear as standard questions that appear year-on-year. The Ad Hoc Questions screen enables you to view - and search results for - questions that were unique to the survey in the any given year. If you do not find a topic or question in the Survey Results browser window that relates to your particular query, look for it under Ad Hoc Questions. Failing that, try BENCHMARK Survey webapplication Search facility. See - Finding answers through Search - in this Help File by clicking on the aforementioned link or clicking on the link in the contents page of this Help File. Example One: Stand Alone Fund Query: I would like to find out about the content of the policy (within the Stand Alone fund) on accepting gifts. Under the survey results tab, select Stand Alone as the Fund Type. Ad Hoc Questions is automatically selected in the SECTION menu. Select 2009 from the YEAR drop down menu. Select PERIOD 4 in the adjacent drop down menu so that Ad Hoc Questions are listed for all years 2006 to All Ad Hoc Questions will then list with the year the question was included in the Survey tagged onto the end of the question. Finally, select the question that relates to your interest. In this example, select Question 1.9: What is the content of the policy on accepting gifts 2007? A circular timer will temporarily appear in the Survey Results browser followed automatically by the appearance of results to your question. BENCHMARK Survey online Help File Page 34

35 BENCHMARK Survey online Help File Page 35

36 Interpreting the Survey Results Ad Hoc Questions Ad Hoc Question results can be interpreted in a similar way to the examples covered in our previous examples for BENCHMARK Survey Results see Finding Survey Results to match your information needs in the clickable Contents list of this Help File [You can also place your mouse over the aforementioned link, hold control and click to access the hyperlinked section.] In the above example, notice that this question applied to years 2006 and 2007 only. 83 participants in 2006 and 111 participants in 2007 made up the base of all respondents to this particular query. Looking at one or two result findings for the purposes of this example, you can see that 60 (54.1%) of the 111 respondents in 2007 said their Trustees may not accept gifts, while 17 (15.3%) said their policy allowed Trustees to accept any gifts without limit provided they fully disclosed the nature of the gift. Slicing your query further As with the previous examples for Survey Results you can also further analyse the result to your first question by setting a second question listed in the second QUESTION drop down menu. Query: What is the Stand Alone Fund policy in the Manufacturing Sector regarding the acceptance of gifts? To find information relating to this query, select Question 1.1: How would you classify the principal employer, using one of the following business categories? Again, a circular timer will temporarily appear in the Survey Results browser followed automatically by the appearance of results to your question. Your first question now has deeper meaning as you are able to further analyse feedback from the respondents. [See the sample results below] BENCHMARK Survey online Help File Page 36

37 Interpreting the results of the expanded Slice Relating to our query on the Stand Alone Fund policy regarding the acceptance of gifts in the Manufacturing Sector: We can see from the BENCHMARK Survey Results in the aforementioned screengrabs that the Manufacturing sector represented: % (12) of the 60 respondents in 2008 who said Trustees may not accept any gifts, compared with 18.1 % (15) of a base of 83 who participated in the 2007 BENCHMARK Survey - 6.3% (7) of the 60 respondents in 2008 who said Trustees may accept any gifts below a Rand amount of R250 provided they make full disclosure, compared with 7.2% (6) of a participant base of 83 in You can use this example in a similar way to interpret the rest of the results to this particular query. BENCHMARK Survey online Help File Page 37

38 Example Two: Stand Alone Fund Query: I would like benchmark information on the normal retirement age for new female entrants to the Stand Alone funds...and have the information subdivided by the type of fund participating in the survey. Under the survey results tab, select Stand Alone as the Fund Type. Ad Hoc Questions is automatically selected in the SECTION menu. Select 2009 from the YEAR drop down menu. Select PERIOD 4 in the adjacent drop down menu so that Ad Hoc Questions are listed for all years 2006 to All Ad Hoc Questions will then list with the year the question was included in the Survey tagged onto the end of the question. Select the question that relates to your interest. In this example, select Question 1.14: What is the normal retirement age for new female entrants? Slicing your query further Continuing with the aforementioned example, Select your second question to further analyse your results according to your business requirements. In this example, select Question 1.2b: Which of the following descriptions applies to the fund participating in the survey? A circular timer will temporarily appear in the Survey Results browser followed automatically by the appearance of results to your question. BENCHMARK Survey online Help File Page 38

39 The results to the above-mentioned query appear in the next screengrab. Interpreting the results of the expanded Slice We can see from the BENCHMARK Survey Results in the aforementioned sample screengrabs that - There were 200 respondents to the first question regarding the normal retirement age for new female entrants to Stand Alone funds in 2007, 188 in (29.5%) of the 200 respondents in the 2007 Survey and 59 (31.4%) of the 188 respondents in 2006, stated 60 as the normal retirement age (7%) of the 59 respondents (2007 BENCHMARK Survey ) and 19 (10.1%) of the 59 respondents in 2006 represented a Pension Fund - 24 (12%) of the 59 respondents (2007 BENCHMARK Survey ) and 32 (17%) of the 59 respondents in 2006 represented a Provident Fund You can use this example in a similar way to interpret the rest of the results for this particular query. BENCHMARK Survey online Help File Page 39

40 15. Using Hot Options Find the HOT OPTIONS to the top right of your browser window, above the Sanlam logo. HOT OPTIONS features a pre-defined list of questions deemed by Sanlam Employee Benefits to be the most frequently used to further analyse Survey Results. You may find the exact selection of questions you need here. Alternatively, use HOT OPTIONS to create your own hot list of Slice questions. To use this feature, move to the bottom section of the screen and enter your criteria from the drop down menus YEAR, FUND TYPE, SECTION (there are ten different topics with a wide variety of questions listed in each) and QUESTION. Save your HOT OPTIONS selection as 1, 2, 3, or 4. These will replace the questions listed in the pre-defined list set by Sanlam Employee Benefits in the top section of the screen. You can return to your set questions any time you wish as they will remain saved under your profile. BENCHMARK Survey online Help File Page 40

41 How Hot Options works Once you re happy with the pre-defined HOT OPTION list of questions by which to further slice your queries, you can use them directly from the Survey Results browser window. [See the screengrab below] In the HOT OPTIONS screen, HOT OPTION 1 is preselected to slice Survey Results (based on the first question selected) by the further question 1.1 How would you classify the principal employer, using one of the following business categories? To save you time scrolling through the second list of questions, you can select this pre-defined question by clicking HOT OPTION 1 depicted by the orange button marked with an icon of a magnifying glass and the numeral 1. A circular timer will temporarily appear in the Survey Results browser followed automatically by the appearance of results to your question. BENCHMARK Survey online Help File Page 41

42 16. Finding answers through Search Use search to find all the questions and/or answers that relate to your chosen phrase or topic. You can also choose to include extended search phrases that will look for synonyms to the phrases or topics you include in your search. You can further define your searches by specifying the FUND TYPE and YEAR. Or you can leave these fields marked as All - and browse the list for the FUND TYPE / YEAR you require. Your results will appear in the window below the search fields. Once the results display in the frame entitled, Search Results, you can go directly to the results for any question by clicking on the link that interests you. BENCHMARK Survey online Help File Page 42

43 Example One: Search phrase AIDS FUND TYPE All YEAR - All Notice the lengthy list of questions that relate to your chosen topic. Now try refining your selection In the following screen grab example, we ve selected Stand Alone as the FUND TYPE and 2009 for the Survey year. Notice the list is shorter, and more accurately defined according to your search requirements. BENCHMARK Survey online Help File Page 43

44 Example Two: Search phrase Disability benefits FUND TYPE Stand Alone YEAR 2009 Once the results display in the frame entitled, Search Results, you can go directly to the results for any question by clicking on the link that interests you. BENCHMARK Survey online Help File Page 44

45 17. Exporting survey results into an Excel Spreadsheet You can save all your results by exporting them directly to Excel from the BENCHMARK Survey webapplication. Once you ve set your research criteria and the results to your questions have appeared in the Survey Results screen, simply click on the orange EXPORT button in the line above right of your Search Results. The link will automatically take you to your results in the form of a Microsoft Excel spreadsheet. You can now save your results and keep them on file for future reference. The Excel spreadsheet will appear with results depicting the number of respondents per result first, followed by the response expressed as a percentage. BENCHMARK Survey online Help File Page 45

46 Please take time to read the Sanlam Employee Benefits BENCHMARK Survey Terms of Use. The link in Excel takes you to the following screen on our Sanlam website: BENCHMARK Survey online Help File Page 46

47 18. Printing survey results You can print all your results either directly from the Survey Results screen or by printing the documents which have been exported directly to Microsoft Excel from the BENCHMARK Survey web-application. Once you ve set your research criteria and the results to your questions have appeared in the Survey Results screen, simply click on the orange PRINT button in the line above right of your Search Results. The link will automatically take you to a print instruction page. Ensure the correct printer is selected, check the pages and number of copies you need to print and click PRINT. You can also save to PDF from the Print screen. BENCHMARK Survey online Help File Page 47

48 NOTE: This web-application facility enables you to print a web-version of the document. For a more professional appearance we suggest you print a branded version of the Survey Results directly from the Excel Export document. Select print as you would normally do from Excel. 19. Managing your survey results history We suggest you export the results to all your BENCHMARK Survey online searches to Microsoft Excel and save each report in your work files so you can quickly and easily refer to them when required. Please take time to read the Sanlam Employee Benefits BENCHMARK Survey Terms of Use. The link at the bottom of the Excel spreadsheet takes you to our Terms of Use our Sanlam website. BENCHMARK Survey online Help File Page 48

49 20. Troubleshooting, suggestions and queries If you have any suggestions or queries regarding the BENCHMARK Survey web-application, please use the form provided under the Contact Us tab. We want to make the tool as user-friendly as possible and value your feedback. If you for any reason you have difficulty opening any of the pages or downloading your search results, or experience any other technical problems, please contact the Sanlam Employee Benefits Technical Helpdesk in Customer Services on (from 8am to 4pm weekdays) BENCHMARK Survey online Help File Page 49

50 21. More about Sanlam Employee Benefits and BENCHMARK Symposium This page provides more information about BENCHMARK Survey. It links you to: Comment from the financial press Comprehensive information about BENCHMARK Symposium BENCHMARK Survey news on Twitter.com The Sanlam Employee Benefits website. Industry News At Sanlam Employee Benefits client communication and client education is one of our main objectives. We strongly believe that an educated client will make the best investment decisions. That s why we always try to bring you the most relevant and up-to-date information in the employee benefits industry. Read more by clicking on the Industry News tab on the Sanlam Employee Benefits section of Sanlam s website: Sanlam / For Institutions/ Sanlam Investments / Sanlam Employee Benefits/ Industry News Sign up to receive updates via Twitter.com Sanlam Employee Benefits is thinking ahead and using new technology to ensure the Retirement Fund Industry is kept informed about the latest trends and information as it happens through regular tweets on Twitter ( If you haven t signed up yet, go back into your registered profile by clicking MY PROFILE at the top right of the BENCHMARK Survey online browser. You will notice there s a ticker box on your PROFILE registration page inviting you to receive regular updates via Twitter. Tick the box and click the update button. You ll automatically be included in our regular BENCHMARK Survey tweets on Twitter. BENCHMARK Survey online Help File Page 50